Taiwan GDP

Taiwan: Economy accelerates in Q2

August 16, 2013

In the second quarter, GDP rose 2.5% over the same period last year, according to the advance estimate released on 16 August. The reading came in well above both the revised 1.6% expansion recorded in the first quarter (previously reported: +1.5%) and market expectations of a 2.3% increase.

The performance in the second quarter was the result of sharp improvement in both private consumption and the external sector. Private consumption expanded 1.7% (Q1: +0.3% year-on-year), whereas public spending contracted 0.2% (Q1: +1.3% yoy). Gross fixed investment decelerated from a revised 6.3% expansion in Q1 to a 3.8% rise in Q2.

On the external side of the economy, exports of goods and services grew 5.2% (Q1: +5.0% yoy) while imports expanded a softer 3.2% (Q1: +6.7% yoy). As a result, the net contribution to overall growth by the external sector improved from a flat rate in Q1 to a 2.1 percentage-point contribution in Q2.

On a quarterly basis, GDP rose 0.6% over the previous period in seasonally adjusted terms, which contrasted the 0.6% contraction observed in the first quarter.

The government sees GDP expanding 2.3% in 2013 and 3.4% in 2014. FocusEconomics Consensus Forecast panellists project GDP to grow 3.5% this year, which is unchanged from last month's forecast. For 2014, the panel estimates that economic activity will increase 4.0%.

Author:,

Sample Report

Looking for forecasts related to GDP in Taiwan? Download a sample report now.

The local elections held in Taiwan on 24 November—which were largely seen as a barometer of the incumbent government’s popularity about halfway through the President’s term—delivered a landslide defeat to President Tsai’s Democratic Progressive Party (DPP).

Sign up for our newsletter

Cookies Policy: We use third-party cookies to improve our services by analyzing your browsing habits.
By continuing to use this website you are giving consent to cookies being used. For more information on cookies and how you can disable them, see our "Cookies Policy".
Close